Income Tax Assessment Act 1997
SECTION 40-885 40-885 Non-arm's length transactions
If you incurred capital expenditure, or received an amount, under an * arrangement and:
(a) there is at least one other party to the arrangement with whom you did not deal at * arm's length; and
(b) apart from this section:
(i) the amount of the expenditure would be more than the * market value of what it was for; or
(ii) the amount you received would be less than the market value of what it was for;
the amount of expenditure, or the amount received, you take into account under this Subdivision is that market value.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.